Business Tax

Image for hrmc collected ps100bn more tax

Tax | HRMC collected £100bn more in tax

Recently released data from HMRC shows that between April and October 2021 HMRC collected a total of £392bn in taxes which is £99.8bn higher than the same period in 2020

19 Nov 2021

Tax | Deliberate tax defaulters face £5.2m in penalties

The latest HMRC deliberate defaulters list shows that the tax authority issued only £5.2m in penalties compared to the £21.7m in the previous quarter

19 Nov 2021

Tax | R&D claims need to be submitted early

HMRC is warning businesses to submit research and development (R&D) claims as soon as possible to avoid a delay in receiving payments between December and January

19 Nov 2021

Image for hmrc sets out individual liability when companies evade tax

Tax | HMRC sets out individual liability when companies evade tax

HMRC has issued guidance on what action to take if a taxpayer has been sent a notice stating that they may be jointly and severally liable for the relevant tax liability of a company that has been involved in tax avoidance or evasion

18 Nov 2021

Tax | CGT incorporation relief – some practical issues

Converting a business from sole trader status to incorporated company has some tax advantages, but it is important to consider the interplay of capital gains tax rules, explains Stephanie Webber, tax writer at Croner-i

17 Nov 2021

Tax | UK named worst offender for global tax losses

The UK and its network of overseas territories and crown dependencies has been named responsible for 39.2% of all tax losses suffered by countries around the world, costing countries over $189bn (£140bn) in lost tax every year

16 Nov 2021

International Tax

Image for oil giant shell moves tax residency uk

Tax | Oil giant Shell moves tax residency to UK

Royal Dutch Shell is to move its tax residence, hold its board and executive committee meetings, and locate its chief executive and chief financial officer to the UK

15 Nov 2021

Tax | Catax acquires R&D specialist Aim Proactive

Business tax relief specialist Catax has acquired competitor Aim Proactive in a deal worth up to £5m and will bring all staff over to Manchester HQ

11 Nov 2021

Tax | Cryptocurrency tax gap widens to £428k

According to official HMRC data published earlier this month, the amount of tax underpaid by cryptocurrency investors has tripled from £142,000 last year to £428,000

9 Nov 2021

Tax | CPD module: LLPs and salaried members

In this month's exclusive Accountancy Daily CPD module, find out how to establish the differences between a partnership and a limited liability partnership (LLP), how LLP profits are taxed and why there is a need for an anti-avoidance rule

5 Nov 2021

Employment Tax

Image for basis reform rules amended help businesses

Tax | Basis reform rules amended to help businesses

HMRC has released its response to feedback on proposals to reform the basis period accounting rules, making some amendments to the rules as a result

4 Nov 2021

Tax | Q&A: buy to let owners and CIS

In our regular Q&A series, Croner Taxwise tax adviser John Riseborough, considers whether buy to let owners need to register for the construction industry scheme (CIS) when they own multiple properties

2 Nov 2021